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Show PASSING OF THE COMMISSION HOUSE. The grip of the commission house in Chicago upon the producer has been ended by the change of system to outright buying, according to a report which shows that only twenty-five per cent of the produce raised in the United Slates now is shipped "on consignment." The bulk of the consignments is found to be the very perishable stuff not sent in carload lots, such as strawberries. straw-berries. "There is still another angle to the commission business that very few people arc familiar with," said the head of one house, "and that is the rate of profit the average commission man figures on making. I don't think you will find anywhere in South Water street a house of any sizq at all that attempts to make more than seven to ten per cent. Last month I did a gross business of $260,-000. $260,-000. jTy daily expense ranged for the month between $100 and $200 and yet with all this expense and the big business I did my net profit pro-fit was 011I3' a fraction over seven per cent. I give you this simply as an illustration of the fact that the commission business as far as tilie rate of profit is concerned is just about the same as any other, the only difference being that we probably make our rate of profit pro-fit on a larger volume of business than the average. In this way seven per cent to us is probably as good as twenty per cent to the average business." - - |
